US$ Printing Operation in Zimbabwe Exposed

IniAfrica reporters have learned of the existence of a US$ Printing Operation in Zimbabwe that is at work creating and distributing fake US$ to allow holders to exchange for real value fully knowing that no value is tendered.

It is the case that dollarization in Zimbabwe has caused this business idea to be transformed into motion.

tThis is not sanctions in motion.

A printing shop in Harare is producing counterfeit US$

Staff Reporter Zimbabwe Reports

THERE is a possibility of counterfeit American dollars entering the South African market from Zimbabwe where the police discovered an outlet that produces fake money.

It is not yet known for how long the outlet has been in operation and how many fake banknotes have already entered the market.

The discovery followed the arrest earlier this week of a retired senior officer of the Zimbabwean Armed Forces who was allegedly found in possession of US$50 million in counterfeit money.

The 62-year-old retired colonel and two accomplices aged 47 and 53, were arrested by detectives in the Manicaland province on Monday.

They were travelling in two vehicles carrying 50 bags stuffed with 500 000 fake US$100 notes.

According to the independent news agency Zimbabwe Reports , police investigators have established that the counterfeit money was printed in a printing shop in Harare and the aim was to discreetly introduce the fake money into the Zimbabwean market what would, inevitably, affect neighbouring countries, mostly South Africa and Zambia which is the preferred destination for many Zimbabweans .